Ethereum Price Jumps 5% to $3,300 Prior to Crucial ETF Verdict
Ethereum has seen a surge in price, exceeding $3,300, in anticipation of the SEC’s decision on spot Ethereum ETFs. Analysts and industry experts are optimistic that the approval of these ETFs will drive increased investment in Ethereum.
The US Securities and Exchange Commission (SEC) is expected to approve several spot Ethereum ETFs by the end of the month. While the exact date remains uncertain, industry insiders speculate that approval may come around the week of July 15.
Nate Geraci, President of the ETF Store, has expressed confidence in the SEC’s approval process, suggesting that the delay in approval is likely coming to an end. He believes that issuers are well-prepared for the launch of the ETFs and minimal adjustments are required at this stage.
Bloomberg ETF analysts Eric Balchunas and James Seyffart have also indicated that the approval of spot Ethereum ETFs could happen as early as mid-July. Seyffart highlighted that issuers have completed their final S-1 registration statements, a crucial step before approval. Balchunas noted that the SEC’s limited feedback on the recent filings indicates a positive outlook for approval.
Matt Hougan, Chief Investment Officer at Bitwise, echoed this sentiment, suggesting that the minimal changes required imply imminent approval.
The approval of a spot Ethereum ETF is anticipated to have a significant impact on the Ethereum market and the broader crypto industry. It is expected to attract substantial institutional and retail capital into Ethereum, potentially emulating the success seen with spot Bitcoin ETFs.
Hougan’s recent report projected that spot Ethereum ETFs could attract around $15 billion in net inflows by the end of 2025. This indicates the potential for substantial growth and interest in Ethereum as an investment option.
